U.S stock futures trade in positive area, attempting to avoid further bearish move
DJIA futures are currently up nearly 300 points after the previous day’s bullish recovery. Despite the bullish situation, traders will continue to stay cautious as the situation could turn bearish immediately. Each bullish movement is a corrective movement that traders could use to load out positions or enter short positions for now.
Dow Jones Industrial Average (INDU)
DJIA index is in a bearish trend now and each bullish movement is a temporary correction before further downside. The index might start a bullish correction now toward the trendline or the broken swing low around 32,500. Traders will observe the index reaction near the level. If the index shows a bearish reaction then be prepared for a bearish continuation toward the 30,000 handles.
Albertsons Companies Inc (ACI)
ACI share prices broke below the daily SMA 200 but continue to maintain its position near the level. Trades will observe the current consolidation. If the share prices continue moving lower then it might target the swing low between $26.00 – $27.50. Under the current global market bearish situation, traders will stick with short positions until the situation change.